Monty Industries Ltd acquired two copyrights during 2023. One copyright was on a textbook that was developed internally at a cost of $37,000. This textbook is estimated to have a useful life of 2 years from July 1,2023 , the date it was published, The secondi. copyright is for a history research textbook and was purchased from University Press on October 1, 2023, for $55,700, This textbook seems to have an indefinite useful life. How should thew two copyrights be reported on Monty's statement of financial position as at Decernber 31,2023 ? Copyright No. 1 should be 1t would be reflected on the December 31.2023 Copyright No. 2 should be It would be reflected on the December 31,2023